Prepare journal entries to record the following selected transactions. January 10 Issued 110,000 shares of $2 par value common stock for $7 cash per share. January 15 Issued 10,800 shares of $2 par value common stock in exchange for equipment with a market value of $78,000. February 1 Issued 800 shares of $2 par value common stock to its promoters in exchange for their efforts, estimated to be worth $3,800